Why has the Market Cap increased slightly to A$19MLet’s break...

Why has the Market Cap increased slightly to A$19M

Let’s break down the Cerberus opportunity,

·25% interest in Carnarvon Basin oil exploration licenses EP475, EP 490, EP 491 and TP 27 (collectively “Cerberus”) noting, "Three of Bounty’s preferred Triassic prospects for the Drilling Program....target Gross Mean Unrisked Prospective Resources of 627 million barrels." so 627m barrels @ A$156 = A$97.8B

·Rough estimated value (1/3 Rule) in ground could be circa A$32.6B @A$156bbl of which Bounty currently has a minimum of 25%- Circa US$8.15B noting BUY market cap is currently onlyAU$19m

·Cerberus lies south of the Jadestone Energy Plc operated Stag OilField, north-east ofthe Chevron Australia Pty Ltd operated Barrow Island Oilfields and east of Santos Limited operated Oil and Gas Fields on Thevanard Island" Prolific Oil producing field in shallow water "25-50m"

·"Options during the next six (6) months to earn two 25% tranches for additional participating interests by funding $9 million and $12million respectively towards The Drilling Program." AND" Operators of both fields have active Programs in 2022 and Bounty and Coastal are assessing the possibility of utilising a jackup from one of these campaigns to minimise mobilisation costs for the Drilling Program."Drilling to commence in 2022

·"Bounty is jointly operating the project with Coastal. The primary prospects of interest for drilling are the Triassic stratigraphic plays that are directlookalikes to the Santos Limited operated Dorado, Phoenix South and Rocdiscoveries. Coastal and Bounty are aiming for the commencement of the DrillingProgramme in late 2022 subject to regulatory approvals."

·"Drilling slots are available on both jackup rigs in the market being the Noble Tom Prosser and Valaris 107 in late 2022. In 2022 both of these rigs will be active on the North West shelf. Bounty and Coastal are in continuing discussions with both rig contractors."

·Potential total of 75% - rights to an additional 50% noting "Bounty and Coastal will co-operate on exercise of these options and any additional entrants to the Drilling Program." Who else will come in? Maybe the following is a clue......"Ted Jacobson Founder of both Discovery Petroleum and Tap Oil as well as a former Director of both Tap Oil and Carnarvon Petroleum" Great connections, knowledge and he knows his stuff and believes there is a significant oil discovery in Cerberus AND

· Right next to our acreage Carnarvon Energy Limited ("Carnarvon") (ASX:CVN) provides the following update

·Current BUY valuation is not pricing in Cerberus and is going to break out massively very soon and the buying on Friday is the tip of the iceberg IMO!

·DYOR & GLTAH